8) Referring to the following table, what is Gross profit? Sales revenue Cost of goods sola Operating expenses Sales discounts Sales returns and allowances Interest revenue $460,000 300,000 85.000 20,000 15.000 5.000 A) $90,000 B) $125,000 C) $140,000 D) $160,000 9) A company sells merchandise for $1,000 on account with terms of 2/10, n. 30. Defective merchandise of $200 is returned 2 days later. Which of the following entries would be made to record the cash receipt for the sale if the payment is received within 10 days? A The accounting entry would be an $800 debit to Cash and an $800 credit to Accounts receivable B) The accounting entry would be a $784 debit to Cash a $16 debit to Sales discounts and an $800 credit to Accounts receivable. C) The accounting entry would be a $16 debit to Sales discounts, an $800 debit to Cash and an $816 credit to Accounts receivable. D) The accounting entry would be an $800 debit to Casha $16 credit to Sales discounts and a $784 credit to Accounts receivable. 10) A company sold merchandise for $350 that cost $221. The entry to record the cost of the merchandise sold would be a A) debit to Sales and a credit to Cash for $350. B) debit to Cash and a credit to Sales for $350. C) debit to Cost of goods sold and a credit to Inventory for $221. D) debit to Inventory for $221 and a credit to Cost of goods sold for $221